Times Examines Sweater Factory Lofts Mess

It seems the long-troubled and notorious former factory building in Greenpoint known as the Sweater Factory Lofts may get a free pass for renting out the building for residential use under the new loft conversion law, according to a story in yesterday’s New York Times. In case you have not been keeping up, here’s the backstory: After the landlord illegally converted the building at 239 Banker Street to apartments and violated a stop work order, residents were evicted by the city in September 2009. But that didn’t stop the owners, who shortly thereafter continued to advertise and rent units in the building. This year, the tenants filed for protection under the new loft law and the building was sold in October. The pending application protects both the current tenants and the landlord. Now, instead of trying to evict tenants, the Department of Buildings “will work with the loft board on this situation to try to legalize the conditions,” said a spokesperson. And, notes the article, the relatively low rents are so appealing many tenants wish to stay.At Loft Conversion, Stop Work Order Failed to Stop It for Long [NY Times]Greenpoint’s Sweater Factory Lofts on Banker Street Sells [Brownstoner]Lofty Aspirations at a Notorious Greenpoint Building [Brownstoner]DOB Shuts Down Sweater Factory [Brownstoner]Photo by Gregg Snodgrass for PropertySharkGMAPP*SharkDOB

2 Comment

I predict death of Live/Work market cause: Loft Law freezes tenants in place as why leave ever; illegal now; any owner who would do it new are not the ones you want to live with; very tight very tight commercial market.